Sundaram · Dynamic Asset Allocation or Balanced Advantage

Sundaram Dynamic Asset Allocation Fund (Formerly Known as Sundaram Balanced Advantage Fund)

Hybrid Scheme - Dynamic Asset Allocation or Balanced Advantage Direct plan, growth benchmark: NIFTY 50 Hybrid Composite debt 50:50 Index launched 26 Nov 2010 open-ended

At a glance

the fund as it stands today, from public disclosures

NAV, 21 Sep 2026

₹41.80

−0.16% since 18 Sep 2026, the previous NAV

1 year

0.4%

return

3 years

8.8%

a year

5 years

not enough history

Since launch

8.9%

a year, over 4.6 years

Assets (AUM)

₹1,671 Cr

Aug 2026 factsheet

Expense ratio, Direct / Regular

0.56% / 1.79%

a year, as of Aug 2026

Holdings

top ten are 38% of the fund · Aug 2026

Disclosed history

4.7 yrs

Dec 2021 – Aug 2026 · 4 of 11 checks could run

Fund managers

Bharath S · since at least Jul 2024Dwijendra Srivastava · since Sep 2024Clyton Richard Fernandes · since Oct 2024Kumaresh Ramakrishnan · since Jul 2026

All managers →

What only Anveshan can tell you

measured from the disclosures, not quoted from a brochure — each links to how it was done

P5Cost, measured

Regular plan costs 1.59% a year more than Direct

₹32,007 on ₹1 lakh over ten years. Same portfolio, two prices — the difference is what the Regular plan's distribution costs you, read from the two NAVs.

See how it is measured →

P7Whose record

Run by : Bharath S for at least 2.2 yrs

with Dwijendra Srivastava, Clyton Richard Fernandes, Kumaresh Ramakrishnan · the factsheet archive starts Jul 2024, so this is a floor. A return earned before they arrived is the house's record, not theirs — the tenure table shows the fund against its category over exactly their months.

Bharath S's other funds →

NAVTracking gap

Not replicated: the portfolio cannot be priced line by line in this build.

Each day, the NAV the fund published against the NAV its last disclosed portfolio would have produced at that day's prices. A gap that opens and stays is a change the fund has made and not disclosed yet.

See the daily gap →

P4Consistency

Beat its category in 0% of three-year stretches, and averaged −1.1 points a year across all of them

21 rolling windows since 2022 · behind by 1.1 when it lost points a year — and never won one. A single five-year figure depends on the day you look; the share of stretches won does not — and the average margin says whether winning often was worth anything.

See every window →

NAV and drawdown

Direct plan, growth class · as of 21 Sep 2026

Month-end NAV, indexed to 100 at Jan 2022

57 month-ends · ₹28.09 → ₹41.80, 1.5× since Jan 2022

Deepest fall (max drawdown)

−9.7%

28 Nov 2025 → 30 Mar 2026

Worst month

−7.5%

Mar 2026

Days to recover

not yet recovered

from the deepest trough back to the old high

Drawdown is measured on the last year of daily NAV; trailing returns are CAGR of the direct growth class. A single end date decides them — the consistency card (P4) below is the record that does not, and it reports both how often the fund beat its category and by how much, because the first without the second can point the wrong way.

Holdings

Aug 2026 disclosure · 96 lines · when each was first held and the change over the last three disclosures

#	Holding	Sector	Weight	First held	Held for	3-mo change
1	ICICI Bank Ltd equity	Banks	7.41%	Dec 2021	4.8 yrs	+0.68%
2	Reliance Industries Ltd equity	Petroleum Products	4.67%	Dec 2021	4.8 yrs	-0.82%
3	Eternal Ltd (Previously Zomato Ltd) equity	Retailing	3.97%	Jul 2025	1.2 yrs	+2.60%
4	Bharti Airtel Ltd equity	Telecom - Services	3.68%	Dec 2021	4.8 yrs	-0.29%
5	HDFC Bank Ltd equity	Banks	3.43%	Dec 2021	4.8 yrs	-2.25%
6	6.48% Central Government Securities 06/10/2035* government security	—	3.40%	Dec 2025	9 mo	-0.07%
7	TREPS / cash equivalents TREPS · money market	—	3.31%	Dec 2021	4.8 yrs	-0.10%
8	Kotak Mahindra Bank Ltd equity	Banks	3.08%	Jan 2026	8 mo	-0.20%
9	Larsen & Toubro Ltd equity	Construction	3.03%	Dec 2021	4.8 yrs	-0.18%
10	6.94% Central Government Securities 11/05/2036 government security	—	2.37%	May 2026	4 mo	+1.16%
11	Bajaj Finserv Ltd equity	Finance	2.32%	Sep 2022	4.0 yrs	+1.27%
12	Mahindra & Mahindra Ltd equity	Automobiles	2.29%	Oct 2024	1.9 yrs	+0.25%
13	One 97 Communications Ltd equity	Financial Technology (Fintech)	2.21%	Apr 2026	5 mo	+1.25%
14	Embassy Office Parks (REIT) reit	—	1.90%	Dec 2021	4.8 yrs	-0.00%
15	Coforge Ltd equity	It - Software	1.86%	Nov 2025	10 mo	+0.51%
16	7.32% Government Securities-13/11/2030* government security	—	1.83%	Dec 2023	2.8 yrs	-0.04%
17	7.38% Central Government Securities 20/06/2027 government security	—	1.80%	Oct 2022	3.9 yrs	-0.05%
18	PB Fintech Ltd equity	Financial Technology (Fintech)	1.61%	Oct 2025	11 mo	+0.23%
19	Oracle Financial Services Software Ltd equity	It - Software	1.54%	Jun 2026	3 mo	+1.54%
20	Cholamandalam Investment and Finance Company Ltd equity	Finance	1.53%	Jul 2025	1.2 yrs	+0.17%
21	TVS Motor Company Ltd equity	Automobiles	1.48%	Nov 2025	10 mo	+0.51%
22	REC LTD - 7.58% - 31/05/2029 corporate bond	—	1.48%	May 2024	2.3 yrs	-0.04%
23	National Bank for Agriculture & Rural Development - 7.1% - 29/03/2029** corporate bond	—	1.46%	Feb 2026	7 mo	-0.03%
24	Hindalco Industries Ltd equity	Non - Ferrous Metals	1.38%	Aug 2026	1 mo	+1.38%
25	Fractal Analytics Ltd equity	It - Software	1.27%	Feb 2026	7 mo	-0.05%
26	7.23% Central Government Securities 15/04/2039* government security	—	1.20%	May 2024	2.3 yrs	-0.02%
27	Amber Enterprises India Ltd equity	Consumer Durables	1.20%	Aug 2024	2.1 yrs	+0.16%
28	Vedanta Aluminium Metal Ltd equity	Non - Ferrous Metals	1.19%	Apr 2026	5 mo	+0.69%
29	Cummins India Ltd equity	Industrial Products	1.08%	Mar 2025	1.5 yrs	-0.24%
30	Aster DM Healthcare Ltd equity	Healthcare Services	1.05%	Apr 2026	5 mo	+0.43%
31	Coromandel International Ltd equity	Fertilizers & Agrochemicals	1.04%	Apr 2022	4.4 yrs	+0.01%
32	Poonawalla Fincorp Ltd equity	Finance	1.03%	Jun 2026	3 mo	+1.03%
33	Billionbrains Garage Ventures Ltd equity	Capital Markets	1.02%	Nov 2025	10 mo	-0.04%
34	Sun Pharmaceutical Industries Ltd equity	Pharmaceuticals & Biotechnology	1.00%	Dec 2021	4.8 yrs	+0.35%
35	UNO Minda Ltd equity	Auto Components	0.92%	Mar 2025	1.5 yrs	+0.36%
36	MTAR Technologies Ltd equity	Electrical Equipment	0.90%	May 2026	4 mo	+0.38%
37	Multi Commodity Exchange of India Ltd equity	Capital Markets	0.90%	Jan 2026	8 mo	-1.00%
38	National Bank for Agriculture & Rural Development - 7.62% - 31/01/2028 corporate bond	—	0.89%	Jan 2023	3.7 yrs	-0.02%
39	National Bank for Agriculture & Rural Development - 6.66% - 12/10/2028** corporate bond	—	0.87%	Jul 2025	1.2 yrs	-0.02%
40	7.34% Central Government Securities 22/04/2064 government security	—	0.86%	Aug 2024	2.1 yrs	-0.02%
41	Delhivery Ltd equity	Transport Services	0.85%	Jun 2026	3 mo	+0.85%
42	Ultratech Cement Ltd equity	Cement & Cement Products	0.83%	Dec 2021	4.8 yrs	-0.06%
43	JSW Infrastructure Ltd equity	Transport Infrastructure	0.79%	Aug 2026	1 mo	+0.79%
44	Amara Raja Energy & Mobility Ltd equity	Auto Components	0.78%	Jan 2025	1.7 yrs	-0.07%
45	Force Motors Ltd equity	Automobiles	0.78%	Jul 2026	2 mo	+0.78%
46	CRISIL Ltd equity	Finance	0.75%	Aug 2025	1.1 yrs	+0.09%
47	TREPS / cash equivalents Cash and Other Net Current Assets^ · derivative	—	0.75%	Jun 2025	1.3 yrs	+0.77%
48	Home First Finance Company Ltd equity	Finance	0.75%	Feb 2025	1.6 yrs	+0.05%
49	CCL Products (India) Ltd equity	Agricultural Food & Other Products	0.74%	May 2026	4 mo	+0.27%
50	Brookfield India Real Estate Trust REIT reit	—	0.73%	Dec 2025	9 mo	+0.03%
51	Bajaj Auto Ltd equity	Automobiles	0.73%	Oct 2023	2.9 yrs	+0.62%
52	Horizon Industrial Parks Ltd equity	Realty	0.73%	Aug 2026	1 mo	+0.73%
53	Mankind Pharma Ltd equity	Pharmaceuticals & Biotechnology	0.71%	Apr 2025	1.4 yrs	-0.04%
54	Bajaj Finance Ltd equity	Finance	0.71%	Jun 2025	1.3 yrs	-1.09%
55	Granules India Ltd equity	Pharmaceuticals & Biotechnology	0.70%	Jun 2026	3 mo	+0.70%
56	Interglobe Aviation Ltd equity	Transport Services	0.69%	Jun 2025	1.3 yrs	+0.05%
57	Prudent Corporate Advisory Services Ltd equity	Capital Markets	0.62%	Feb 2025	1.6 yrs	+0.10%
58	Mrs. Bectors Food Specialities Ltd equity	Food Products	0.61%	May 2026	4 mo	+0.38%
59	7.17% Government Securities - 17/04/20230 government security	—	0.61%	May 2023	3.3 yrs	-0.01%
60	Affle (India) Ltd equity	It - Services	0.60%	Apr 2026	5 mo	-0.00%
61	Indegene Limited equity	Healthcare Services	0.60%	Jun 2025	1.3 yrs	+0.07%
62	Indian Railway Finance Corporation Ltd - 7.74% - 15/04/2038** corporate bond	—	0.60%	Mar 2023	3.5 yrs	-0.01%
63	PNB Housing Finance Ltd - 7.28% - 05/06/2028** corporate bond	—	0.59%	Dec 2025	9 mo	-0.01%
64	Alkem Laboratories Ltd equity	Pharmaceuticals & Biotechnology	0.58%	Jun 2026	3 mo	+0.58%
65	7.5% Cholamandalam Investment and Company Ltd - 30/09/2026 equity	Unrated	0.53%	Oct 2023	2.9 yrs	-0.00%
66	TD Power Systems Ltd equity	Electrical Equipment	0.47%	Aug 2026	1 mo	+0.47%
67	Ashok Leyland Ltd equity	Agricultural, Commercial & Construction Vehicles	0.35%	Jul 2026	2 mo	+0.35%
68	State Bank of India equity	Banks	0.33%	Dec 2021	4.8 yrs	+0.02%
69	Clean Science & Technology Ltd equity	Chemicals & Petrochemicals	0.32%	Aug 2026	1 mo	+0.32%
70	Elecon Engineering Company Ltd equity	Electrical Equipment	0.32%	Apr 2026	5 mo	+0.04%
71	Cochin Shipyard Ltd equity	Industrial Manufacturing	0.31%	Aug 2026	1 mo	+0.31%
72	NTPC LTD equity	Power	0.30%	May 2026	4 mo	-0.06%
73	LIC Housing Finance Ltd - 6.17% - 03/09/2026** corporate bond	—	0.30%	Mar 2024	2.5 yrs	-0.01%
74	Hindustan Aeronautics Ltd equity	Aerospace & Defense	0.24%	Jul 2025	1.2 yrs	+0.02%
75	Union Bank of India equity	Banks	0.21%	Apr 2026	5 mo	+0.02%
76	360 ONE WAM Ltd (Prev IIFL Wealth Management Ltd) equity	Capital Markets	0.03%	Apr 2026	5 mo	+0.00%
77	TREPS / cash equivalents Margin Money For Derivatives · mutual fund unit	—	0.02%	Dec 2021	4.8 yrs	+0.01%
78	Cipla Ltd equity	Pharmaceuticals & Biotechnology	0.00%	Mar 2022	4.5 yrs	0.00%
79	Bharti Airtel Ltd OCT-2026 derivative	—	-0.01%	Aug 2026	1 mo	-0.01%
80	State Bank Of India Ltd OCT-2026 derivative	—	-0.01%	Aug 2026	1 mo	-0.01%
81	ICICI Bank Ltd OCT-2026 derivative	—	-0.02%	Aug 2026	1 mo	-0.02%
82	360 ONE WAM Ltd (Prev IIFL Wealth Management Ltd) SEP-2026 derivative	—	-0.03%	Aug 2026	1 mo	-0.03%
83	Hindustan Aeronautics Ltd OCT-2026 derivative	—	-0.07%	Aug 2026	1 mo	-0.07%
84	Hindustan Aeronautics Ltd SEP-2026 derivative	—	-0.17%	Aug 2026	1 mo	-0.17%
85	Union Bank of India SEP-2026 derivative	—	-0.21%	Aug 2026	1 mo	-0.21%
86	NTPC Ltd SEP-2026 derivative	—	-0.30%	Jul 2026	2 mo	-0.30%
87	State Bank Of India Ltd SEP-2026 derivative	—	-0.31%	Aug 2026	1 mo	-0.31%
88	One 97 Communications Ltd SEP-2026 derivative	—	-0.47%	Aug 2026	1 mo	-0.47%
89	Bajaj Finance Ltd SEP-2026 derivative	—	-0.71%	Jul 2026	2 mo	-0.71%
90	Bharti Airtel Ltd SEP-2026 derivative	—	-0.97%	Aug 2026	1 mo	-0.97%
91	HDFC Bank Ltd SEP-2026 derivative	—	-1.11%	Jul 2026	2 mo	-1.11%
92	Bajaj Finserv Ltd OCT-2026 derivative	—	-1.16%	Aug 2026	1 mo	-1.16%
93	Kotak Mahindra Bank Ltd SEP-2026 derivative	—	-1.33%	Aug 2026	1 mo	-1.33%
94	Eternal Ltd ( Previously named as Zomato Ltd ) SEP-2026 derivative	—	-1.71%	Aug 2026	1 mo	-1.71%
95	Reliance Industries Ltd SEP-2026 derivative	—	-1.94%	Aug 2026	1 mo	-1.94%
96	ICICI Bank Ltd SEP-2026 derivative	—	-2.82%	Aug 2026	1 mo	-2.82%

Showing 1–96 of 96 rows per page10 25 50all

Largest sectors, Aug 2026 · grey: a year ago

Banks14.5% · 20.1%

Finance7.1% · 7.5%

Automobiles5.3% · 3.8%

Petroleum Products4.7% · 5.8%

It - Software4.7% · 4.1%

Retailing4.0%

Financial Technology (Fintech)3.8%

Telecom - Services3.7% · 4.8%

share of the book05%10%15%

By market cap, Aug 2026

Large cap44.3%

Mid cap17.6%

Small / micro cap11.8%

Cash & equivalents3.3%

Not classified1.3%

Other8.3%

share of the book025%50%75%100%

"Not classified" is what no cap tier could be inferred for — newly listed names, or lines without an ISIN.

Composition by market cap, month by month — what the fund actually held against what its label says

Large cap 44%
Mid cap 18%
Small / micro 12%
Cash & other 3%

The seven checks, in full

each: the plain claim, where it sits in the category, and — folded — how it is measured and the case against. A flag fires only where headline and record disagree.

P4 Consistency, not a single end date

Beat its category in 0% of three-year stretches, and averaged −1.1 points a year across all of them

21 rolling windows since 2022 · behind by 1.1 when it lost points a year — and never won one

What this means. Take every three-year stretch since the fund had a NAV, one starting each month, and ask two things of each: did it beat the typical fund in its category, and by how much. Counting the wins tells you the record does not depend on when you happen to look; averaging the margin tells you whether winning often was worth anything, because four small wins do not pay for one large loss.

How often, and by how much. The count and the average agree. It did not win one of the 21; the average across all of them is −1.1 points. The worst window ended Dec 2025, 1.5 points behind.

lowest in categoryhighest in category

5th percentile · bottom decile of 30 funds · category median 42%

windows measured21windows won0average across every window−1.05 pts a year · median −1.08when behind, by how much−1.05 pts a year over 21 windowsworst window−1.54 pts a year, ended Dec 2025best window−0.58 pts a year, ended May 2025non-overlapping windows in that span1 — the rolling count overlaps, this does not

Thin record. Only 21 rolling windows — under six years of NAV. The share is shown because it was measured; it is a start, not a record, and does not qualify for the home shelf until 36 windows exist.

Fund minus category, each rolling three-year window

ahead of categorybehind

Each bar is one window's margin in percentage points a year. The height of the bars, not the count of green ones, is what the average across every window measures.

How it is measured, and the case against

A fund that beats its category in most rolling three-year windows has a record; one that beats it in a few has an end date. How often it won and by how much are different questions, and this card answers both, because a fund can win four windows in five and still be behind across all five.

How often has it beaten its category, across every window?

Why this might matterRolling every three-year window forward month by month gives hundreds of overlapping observations instead of one. A single end date decides a headline five-year figure; the share of windows won cannot be flattered by when you happen to look. The average margin across every window is that share and the payoff multiplied together — win share x average beat plus loss share x average shortfall is exactly the average — so a high share bought with a few ruinous windows cannot hide behind the count.

Why it might notRolling windows overlap heavily, so they are not independent observations and the true sample is far smaller than the count suggests — the card says how many non-overlapping windows the same span holds, and it is usually a handful. A fund that changed manager or mandate carries a record that is only partly its own. The average margin is only as meaningful as the category: where a category is a grab bag (“Other ETFs” holds gold beside equity), a large shortfall says the comparison is wrong, not that the fund is. And none of this forecasts: our own study found the share of windows won does not predict the next three years, and weighting it by payoff gives no reason to think otherwise.

P5 Cost, measured

Regular plan costs 1.59% a year more than Direct

₹32,007 on ₹1 lakh over ten years

What this means. The Regular and Direct plans hold the same portfolio; the Regular one pays a distributor out of your money every day. The gap between the two NAVs is that cost, measured from the NAVs rather than quoted from a document.

1.59 pp a year

costliest in categorycheapest in category

33th percentile · below median of 35 funds · category median 1.45 pp

on ₹1,00,000 over ten years₹32,007Direct vs Regular, annualised8.9% vs 7.3%measured over4.67 years

How it is measured, and the case against

The Direct plan is the same portfolio, priced differently; the divergence of the two NAVs is the cost, measured rather than quoted.

What does the Regular plan actually cost against its Direct twin?

Why this might matterSame manager, same holdings, same day. The gap between the two NAV series is the one number on this page that is knowable today rather than hoped for, and it compounds for as long as the units are held.

Why it might notA Regular plan buys advice. If that advice stops someone selling in a drawdown it can be worth more than the fee — the cost is visible and the behavioural saving is not, which makes this comparison unfair in exactly one direction.

P1 Churn, and what it bought

Turns over 72% of the portfolio a year

−0.02 pts of excess return per unit of turnover

What this means. How much of the portfolio was bought and sold in a year, computed from what the fund disclosed each month. Trading costs something certain; the extra return it is meant to buy is not.

72% a year

costliest in categorycheapest in category

32th percentile · below median of 30 funds · category median 62%

excess return per unit of turnover−0.02 pts

How it is measured, and the case against

Turnover measured from consecutive disclosures — Σ|Δweight|/2 — costs something certain; the excess return it is meant to buy is not.

Is the trading paying for itself?

Why this might matterAMCs define their own turnover figure inconsistently. This one is computed from what the fund disclosed month to month, so two funds are comparable on it. Read it beside the excess return per unit of turnover.

Why it might notTurnover computed from month-end snapshots misses everything bought and sold inside a month, and a fund forced to sell by redemptions is charged for churn it did not choose.

P2 Conviction or inertia

Typical top-10 holding kept 53 months

What this means. How long a typical top-10 position has been in the top ten. Long-held positions are a decision; a top ten that changes every quarter is a reaction.

53 months

lowest in categoryhighest in category

77th percentile · top quartile of 30 funds · category median 35 months

active sharenot yet computable — needs index constituent files

How it is measured, and the case against

The median months a top-10 position has been held separates a portfolio somebody chose from one that drifted.

How long does a top-10 position stay a top-10 position?

Why this might matterConcentration is how a manager expresses conviction, and persistence is how long they keep it. Long-held positions with a rising weight are a decision; a top ten that turns over every quarter is a reaction.

Why it might notPersistence without active share is inertia: a portfolio of 166 names that tracks its category closely has diversified away the reason to pay for it. Active share needs index constituent files, which are not loaded yet.

P3 Hit rate of the top ten

5 of 10 top picks beat their peers over the next 6 months, yet averaged level with them

494 positions judged, one disclosure at a time · ahead by 12.4 points when it won, behind by 11.9 when it lost

What this means. Take each month's ten largest holdings and check whether each one beat the typical stock its category holds over the next six months, and by how much. A blended return can hide two wins and eight losses; a count of wins can hide one position that lost half its value.

How often, and by how much. It lost more positions than it won, but the wins were bigger. Ahead by 12.4 points in the 242 positions it won and behind by 11.9 in the 252 it lost, so the average across all 494 is 0.0 points. The worst position was INE721A01013 at the Sep 2024 disclosure, 63.9 points behind. Counting positions makes this fund look worse than the arithmetic does.

49%

lowest in categoryhighest in category

41th percentile · below median of 30 funds

positions judged494beat the median stock242average across every position+0.03 pts · median −0.30when ahead, by how much+12.43 pts over 242 positionswhen behind, by how much−11.92 pts over 252 positionsworst position−63.86 pts, INE721A01013 at the Sep 2024 disclosurebest position+56.16 pts, INE062A01020 at the Aug 2025 disclosure

How it is measured, and the case against

A manager's largest bets, judged one by one over the following six months, say more than the fund's blended return — and how far each one beat or missed the median stock says more than counting how many did.

Of its top-10 positions, how often did they beat the category-median stock?

Why this might matterA fund can beat its category on two positions and lose on eight; the hit rate shows the pattern the aggregate hides. The average margin then shows what the hit rate hides in turn: six winners worth a point each do not pay for four losers worth ten, and only the margin says which happened.

Why it might notSix months is short, sizing matters more than counting, and a manager who is right on the biggest position and wrong on nine small ones has done their job — the margins here are unweighted, so they answer the counting question better, not the sizing one. Overlapping disclosures judge the same position again each month it is held, so one long-held winner is counted many times. And this is a description of six months already past, not a forecast of the next six.

P6 Size against edge

₹1,671 Cr; 275% of growth came from outflows

Regular plan expense ratio 2.53% a year

What this means. Where the fund sits by size in its category, and how much of its growth was money arriving rather than the portfolio compounding. A very large fund cannot buy what a small one can; size should buy a lower fee in return.

2.53% TER

costliestcheapest

30th percentile · below median of 37 funds · category median 2.31%

expense ratio, Regular / Direct2.53% / 1.12% · category median 2.31%AUM, Sep 2023 → Aug 2026₹1,543 Cr → ₹1,671 Cr (+3% a year)of that change, from flows rather than returns275% net outflows · NAV +31% over the window

Assets under management, ₹ crore, Dec 2021 – Aug 2026

38 points · months without a factsheet figure use AMFI's quarterly average · Regular-plan expense ratio 2.04% in Jan 2022 → 2.53% in Sep 2026

How it is measured, and the case against

Past a certain size the smaller end of a mandate becomes unreachable, and the fund starts to look like its index; what size should buy in return is a lower expense ratio.

Has the fund outgrown the universe it invests in — and did size buy a lower fee?

Why this might matterSize narrows what the manager can meaningfully hold and should lower what the investor pays. Read the AUM history beside the expense ratio: a fund that has tripled through inflows while its Regular-plan TER sits above the category median has kept the benefit of scale for the house. The flow decomposition says how much of the growth was money arriving rather than the portfolio compounding.

Why it might notScale funds research teams, and plenty of large funds have gone on compounding for decades. Inflows follow performance, so a fund growing fast is usually one that did well; the constraint is real but not automatically binding, and a TER is a ceiling the AMC can cut at any time.

P7 Whose record is this

Run by : Bharath S for at least 2.2 yrs

with Dwijendra Srivastava, Clyton Richard Fernandes, Kumaresh Ramakrishnan · the factsheet archive starts Jul 2024, so this is a floor

What this means. How long the people running it now have been running it, read from the monthly factsheets. A five-year record earned under someone else is not evidence about these managers.

No category distribution for this measure yet.

running it now: Bharath S (since at least Jul 2024), Dwijendra Srivastava (since Sep 2024), Clyton Richard Fernandes (since Oct 2024), Kumaresh Ramakrishnan (since Jul 2026)share of the fund's life under the current teamnot knowable — the archive starts Jul 2024, so the tenure is a floorchanges of hands in the archive3 — last Jul 2026

Who ran it, month by month · factsheets through Sep 2026

running it nowearlier

Manager	Role	From	To	Fund vs category, those months	3-yr stretches won in tenure
Bharath S	fund manager	by Jul 2024†	now	4.7% vs 5.4% p.a. (−0.73 pp)	—
Dwijendra Srivastava	fund manager	Sep 2024*	now	2.8% vs 3.8% p.a. (−0.98 pp)	—
Clyton Richard Fernandes	fund manager	Oct 2024*	now	2.0% vs 3.3% p.a. (−1.28 pp)	—
Kumaresh Ramakrishnan	—	Jul 2026*	now	2.9% vs 2.2% (+0.72 pp)	—

* dated by first appearance in the archive we hold, not by a date the factsheet printed. † already named on the first factsheet we hold: the stint is at least this long, and its start is not known. Co-managed months count for every manager named; a factsheet names the manager of record, not who made each call. All managers →

How it is measured, and the case against

A record earned under different people is not evidence about these ones.

Does the displayed record predate the people running it?

Why this might matterA five-year figure on a fund whose longest-serving manager joined two years ago is the house's record more than the person's. The tenure here comes from what each monthly factsheet named, so a change of hands is dated to the month it was disclosed, and the fund's return against its category can be read over exactly those months.

Why it might notFund houses have processes, research desks and mandates that outlast individuals, so a manager change is not a reset. Co-managed funds attribute the same months to every named manager, and a factsheet names the manager of record, not necessarily the person making the calls. And the archive we hold starts in Jul 2024: : Bharath S was already named on its first sheet, so the tenure here is the floor of what is known, not the month anyone arrived — the record may well belong to the people running it now.

Tracking gap

the NAV the fund published, against the NAV its last disclosed portfolio would have produced at each day's prices

No signal. About 25% of this fund is outside listed Indian equity — a foreign or derivative sleeve, or debt — and there are no daily prices to replicate it with. A wrong signal would be worse than none.

Share classes

latest NAV per AMFI code

Plan	Option	NAV	Date
direct Sundaram Dynamic Asset Allocation Fund Direct Plan - Growth	growth	₹41.80	21 Sep 2026
direct Sundaram Dynamic Asset Allocation Fund Direct Plan - Monthly IDCW	idcw	₹17.37	21 Sep 2026
regular Sundaram Dynamic Asset Allocation Fund Regular Plan - Growth	growth	₹35.04	21 Sep 2026
regular Sundaram Dynamic Asset Allocation Fund Regular Plan - Monthly IDCW	idcw	₹13.95	21 Sep 2026

The Direct / Regular gap, in rupees

Direct growth NAV: ₹41.80
Regular growth NAV: ₹35.04
NAV divergence to date: 19.3% — same portfolio, priced differently
Regular costs more by: 1.59% a year
On ₹1,00,000 over ten years: ₹32,007

A Regular plan buys advice. The fee is visible and the behavioural saving is not; both are shown, neither is netted off.

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